UPDATE: Citi Reiterates Buy on Avnet, Slashes PT to $36

Citi reiterated its Buy rating on Avnet (NYSE: AVT). At the same time, the rating agency reduced its price target on the company's stock from $46 to $36. On Wednesday, AVT added 0.04% to its value to finish the day at $25.52. Its shares continued to climb in today's pre-market trading, rising 0.12% to stand around $25.55.